Tag Archives: Laguna Park Enbloc

Will Laguna Park owners settle for less?

Posted on 19 Oct 2009 | Comments Off on Will Laguna Park owners settle for less?

They mull selling units at $1 billion, but some want to wait for market pick-up

After the failed bid, owners met yesterday to discuss the fate of their estate. TODAY FILE PHOTO

When they put their sea-facing estate up for collective sale early last month, with the economy barely on the track to recovery, the $1.2 billion reserve price raised eyebrows.

Now with their bid having failed, owners of units at Laguna Park are adjusting their expectations and considering selling at a lower price.

The new target: Reportedly between $950 million and $1 billion.

The development’s marketing agent Credo Real Estate said residents are likely to receive letters advising them on the situation in two or three days.

The revised price, however, is still a “sizeable amount”, felt ERA Asia-Pacific associate director Eugene Lim. Continue reading →

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Laguna Park owners mull lower sale price

Posted on 19 Oct 2009 | Comments Off on Laguna Park owners mull lower sale price

At between $950 million and $1 billion, the new price range works out to between $693 and $723 per square foot per plot ratio.

OWNERS of units at Laguna Park, whose $1.2 billion collective sale bid failed last week, are now considering a lower sale price of between $950 million and $1 billion.

The new range works out to between $693 and $723 per square foot per plot ratio (psf ppr), including an estimated $400 million payable to the state to raise the intensity of the site to the plot ratio of 2.8, and topping up the lease to a fresh 99-year term. This compares to $844 psf ppr at the reserve price of $1.2 billion.

These were some of the numbers discussed at a meeting of about 200 Laguna Park residents yesterday afternoon, called to consider the results of the failed tender and discuss possible options. Continue reading →

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